JOHANNESBURG (miningweekly.com) – ASX-listed Tiger Resources’ Kipoi copper mine, in the Democratic Republic of Congo, is on track to meet full-year production guidance of 25 000 t of copper cathode, following strong production of 7 139 t in the three months to September 30.
This compared with the 6 732 t produced in the June quarter and the 5 723 t produced in the March quarter.
Production for July was 2 459 t, representing an annualised rate of 29 500 t and highlighting the ability of the mine’s solvent-extraction and electrowinning plant (SX-EW) to exceed its nameplate design capacity.
“The ability to meet production guidance in the first full year of operations reflects positively on our commitment to targeting best technical practice and continuing efforts to realise the capacity within the SX-EW plant,” the company said in a statement.
It further reported that its stacked ore volumes had increased quarter-on-quarter, despite reduced availability of the primary stacker owing to maintenance issues. Heap stacking was supplemented by excavator stacking in July and August, with normal operations resuming in September.
As part of Kipoi’s wet season management plan, stacked volumes were expected to increase in the fourth quarter to maintain budgeted copper output. The average grade of material stacked was 3.88% total copper, with a reported acid soluble copper grade of 1.94% copper.
Cash operating costs reduced from $1.48/lb in the second quarter to $1.40/lb in the quarter under review, while all-in sustaining costs of $1.63/lb were marginally down on the $1.64/lb recorded in the second quarter.
The company noted that a step change in grid power use, that occurred in September, negatively impacted its processing costs, compounded by reduced availability of its primary stacker and unplanned maintenance costs.
Meanwhile, Tiger reported that sales for the quarter reached 6 833 t of copper cathode at a realised average copper price of $5 359/t.
By end-September, it had forward sold 1 750 t of its October cathode sales at $5 343/t.